Securing the City of the Future with Bitcoin
http://fortune.com/2016/02/29/city-future-bitcoin/
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Startup Factom is tapping the digital currency’s security to safeguard ‘smart cities.’
Cities worldwide are hoping to use connected devices to better track and manage everything from traffic to pollution to disaster response. But those plans face the same security challenges as any connected project, and the Austin-based data-security startup Factom is proposing a unique solution: using the digital currency network Bitcoin to reliably date-stamp and authenticate records.
Factom has recently inked two development deals that will help it secure data for cities. One, announced last week, will see Factom working with the Chinese notarization service Ancun Zhengxin to build a data verification back end for companies. The second deal is with technology consultancy iSoftStone, which will work with Factom to directly apply Bitcoin-based data security to smart cities, also starting in China.
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Cities worldwide are hoping to use connected devices to better track and manage everything from traffic to pollution to disaster response. But those plans face the same security challenges as any connected project, and the Austin-based data-security startup Factom is proposing a unique solution: using the digital currency network Bitcoin to reliably date-stamp and authenticate records.
Factom has recently inked two development deals that will help it secure data for cities. One, announced last week, will see Factom working with the Chinese notarization service Ancun Zhengxin to build a data verification back end for companies. The second deal is with technology consultancy iSoftStone, which will work with Factom to directly apply Bitcoin-based data security to smart cities, also starting in China.
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